Morgan Housel changed how I think about wealth
Hey Future Millionaire,
Wake up tomorrow with no alarm. No boss. No pressure to say yes to things you hate.
That's freedom.
And according to Morgan Housel, that's what money is really for. Not cars. Not status. Not even early retirement. Just the power to choose your own path, every day.
I have been a big fan of his books 'The Psychology of Money' and 'Same as Ever'.
And this week he did an amazing interview on the Diary of a CEO podcast.
This hits different once you hear it.
Here are the most important lessons I took away from his interview.
The hidden price tags
Nothing good comes free.
Morgan revealed that success comes with an unseen cost. It demands dealing with uncertainty and volatility. Never smooth sailing.
In your career? Long hours away from family.
In relationships? Compromises that sting.
In investing? Patience through market crashes.
The secret? Know what you're willing to pay. Then pay it.
True wealth = true freedom
We're playing the wrong game with money.
Wealth isn't the fancy watch or sports car. Those things scream "look at me!" Nobody cares about your stuff.
Wealth is independence. Choice. Control. Options when life throws curveballs.
→ Lost your job? No panic. You've got time to find the right next step.
→ Market crash? You sleep fine because you're playing the long game.
→ Dream opportunity? You say yes without checking your bank balance first.
The control factor
Nothing tanks happiness faster than feeling trapped.
Morgan argues real happiness comes from control and freedom. When you direct your own path, everything changes.
Think of your worst jobs. The problem wasn't the work. It was feeling stuck, powerless, controlled.
Small bank account + big expenses = zero freedom.
The patient get paid
Compounding works magic... but only if you let it.
Most successful investors didn't get rich overnight. Lasting wealth takes years of steady persistence.
The math is simple. The psychology is brutal.
We get distracted by:
Quick wins that fizzle
Flashy strategies that fail
Market drama that means nothing
What others think of our choices
Meanwhile, the patient investor quietly wins.
Beyond the numbers
Money decisions aren't spreadsheet decisions.
People don't make financial choices with calculators. They make them at dinner tables. In group chats. Under pressure.
Ego. Pride. Childhood money trauma. It all shows up.
We tell ourselves we're rational. We're not.
That's why simple rules win.
The ultimate test
Can you sleep at night?
The best financial plan isn't the one with the highest return. It's the one you stick with through chaos, fear, and uncertainty.
In market downturns, most people crack. And make costly mistakes.
Simple rules for the win
Forget complexity. Simple beats sophisticated.
Live below your means
Save consistently
Avoid lifestyle inflation
Invest patiently
Ignore market noise
Build margin for error
You won't impress finance bros with these boring rules. But you'll build wealth while they chase their tails.
The bottom line
Money is just a tool. Use it to carve out freedom.
The hardest financial skill? Getting the goalpost to stop moving. When will you have enough?
Without an answer my friend, you'll chase money forever and never feel rich.
Define what freedom means to you. Then build around that.
Money buys things. But freedom transforms life.
Ready to put these ideas into practice?
Understanding the principles is one thing. Implementing them in Europe's unique financial landscape is another.
If you're ready to build your own freedom plan but need guidance navigating European investment options, tax structures, or wealth-building strategies, I can help.
Let's discuss how Morgan's wisdom can be tailored to your specific situation.
I hope you are having an amazing weekend and if you are in Ireland enjoy the bank holiday Monday as well!
To your financial freedom ,
Sjoerd
P.S. I haven't shared too many videos this week but most people enjoyed this video of me complimenting a 26 year-old BDR on his achievements already:
